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Founder Employment Agreement

Founder Employment Agreement Template for New Zealand

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Key Requirements PROMPT example:

Founder Employment Agreement

"I need a Founder Employment Agreement for a tech startup in New Zealand where I'll be CTO and co-founder with 25% equity stake, starting March 2025, with specific provisions for intellectual property protection and the option to maintain external consulting work up to 10 hours per week."

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Document background
The Founder Employment Agreement is a crucial document used when formalizing the employment relationship between a company and its founder(s) in New Zealand. It serves the dual purpose of establishing standard employment terms while addressing the unique aspects of a founder's role in the company. This agreement is typically implemented during company formation or when transitioning from an informal arrangement to a formal employment structure. It must comply with New Zealand employment law, including the Employment Relations Act 2000, while incorporating provisions for share ownership, intellectual property protection, and long-term commitment to the business. The document is essential for protecting both the company's and the founder's interests, providing clarity on roles, responsibilities, and expectations, and establishing a framework for the founder's ongoing involvement in the business.
Suggested Sections

1. Parties: Identifies the company and the founder-employee as parties to the agreement

2. Background: Sets out the context of the founder's relationship with the company and the purpose of the agreement

3. Definitions: Defines key terms used throughout the agreement

4. Appointment and Role: Details the founder's position, duties, and responsibilities both as an employee and founder

5. Term and Hours: Specifies the commencement date, term of employment, and working hours expectations

6. Remuneration: Details salary, benefits, and any performance-based compensation

7. Share Ownership: Outlines the founder's shareholding and any vesting arrangements

8. Intellectual Property: Comprehensive provisions regarding ownership and protection of IP created during employment

9. Confidentiality: Obligations regarding company confidential information and trade secrets

10. Duties and Obligations: Specific responsibilities as both an employee and founder, including fiduciary duties

11. Leave Entitlements: Details of annual, sick, and other leave entitlements

12. Termination: Grounds and process for termination of employment

13. Post-Employment Restrictions: Non-compete and non-solicitation provisions

14. General Provisions: Standard boilerplate clauses including governing law, notices, and entire agreement

Optional Sections

1. Board Position: Terms of appointment to the board of directors, if applicable

2. Equity Incentive Plan: Details of any additional share options or equity incentives beyond initial shareholding

3. Specific Project Responsibilities: For founders with specific technical or operational responsibilities

4. International Travel: If the role requires significant international travel or overseas work

5. Change of Control: Specific provisions dealing with founder's rights in case of company sale or merger

6. Founder Group Obligations: If multiple founders are involved, provisions for collective decision-making

7. Alternate Dispute Resolution: Specific procedures for resolving disputes before litigation

8. Garden Leave: Provisions for placing the founder on garden leave during notice period

Suggested Schedules

1. Schedule 1: Position Description: Detailed description of the founder's role, responsibilities, and performance expectations

2. Schedule 2: Remuneration Package: Comprehensive breakdown of salary, benefits, and other compensation elements

3. Schedule 3: Share Vesting Schedule: Detailed timeline and conditions for share vesting

4. Schedule 4: Intellectual Property Register: List of existing IP brought into the business by the founder

5. Schedule 5: KPIs and Performance Metrics: Specific performance indicators and measurement criteria

6. Appendix A: Company Policies: Key company policies that form part of the employment relationship

7. Appendix B: Share Option Terms: Detailed terms and conditions of any share option arrangements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions







































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Relevant Industries

Technology

Software Development

E-commerce

Financial Services

Healthcare

Biotechnology

Manufacturing

Professional Services

Media and Entertainment

Education Technology

Clean Technology

Retail

Telecommunications

Consumer Goods

Business Services

Relevant Teams

Legal

Human Resources

Executive Leadership

Board of Directors

Corporate Governance

People Operations

Talent Management

Compliance

Corporate Secretary Office

Relevant Roles

Founder

Co-Founder

Chief Executive Officer

Chief Technology Officer

Chief Financial Officer

Chief Operating Officer

Chief Product Officer

Managing Director

Executive Director

Technical Director

Creative Director

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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